Hyatt Regency on Capitol Hill Sold To Blackstone Affiliate

WASHINGTON, DC— BRE/Capitol Hill LLC (an affiliate of the Blackstone Group) has purchased— at an undisclosed price— the 834-room Hyatt Regency Washington, DC on Capitol Hill from SHC Capitol LLC in a deal arranged by Jones Lang LaSalle Hotels. It was reported the Blackstone affiliate plans to commence work immediately on a guestroom renovation and capital improvement plan, earmarked to total in excess of $10 million. The Hyatt Regency Washington, DC on Capitol Hill— a deluxe, full-service hotel situated in the heart of the District of Columbia— is billed as the largest lodging facility on Capitol Hill. It contains nearly 35,000 square feet of recently renovated meeting space and is situated near the U.S. Capitol, Library of Congress, Supreme Court, Smithsonian Museums, Washington Mall and Amtrak’s Union Station. It is also located nine blocks from the new, 2.3-million-square-foot Washington Convention Center (opened in March 2003).